The prevailing pullback from the target has been flat, fueled by tame volume and breadth, signaling that bullish momentum is intact. All told, the S&P 500’s near- to intermediate-term bias remains comfortably bullish based on today’s backdrop.

Tuesday’s Watch List

The charts below detail names that are technically well positioned. These are radar screen names — sectors or stocks poised to move in the near term. For the original comments on the stocks below, see The Technical Indicator Library.

Still, the group is off to a bullish July start, clearing major resistance on increased volume.

Consider that the 110 area matches a headline inflection point, better illustrated on the four-year chart.
Delving slightly deeper, the 50-day moving average has marked a useful intermediate-term trending indicator. The group’s mid-year recovery attempt gets the benefit of the doubt barring a violation.

Meanwhile, the Financial Select Sector SPDR has also come to life, rising to challenge nine-month highs.

Selling pressure near the range top has been flat, fueled by decreased volume, improving the chances of eventual follow-through. As detailed last week, the group’s breakout attempt is intact barring a violation of support, circa 27.50.

As illustrated, the shares reversed sharply from the June low, knifing atop trendline resistance, an area closely matching the breakdown point (1,823.75).

More immediately, the shares have rallied to challenge a nine-month range top (1,964.40) early Tuesday.

Tactically, the 50-day moving average (1,864) has marked a bull-bear inflection point, and Amazon’s rally attempt is intact barring a violation. (Also see the June 10 review.)

United Airlines Holdings, Inc. /zigman2/quotes/205037281/compositeUAL+2.20%
is a well positioned large-cap carrier.

As illustrated, the shares are rising from a massive double bottom, the “W” formation defined by the March and June lows. The July upturn has resolved the bullish pattern.

Tactically, a near-term target holds in the 94 area, while the pattern more broadly projects to about 102. Conversely, the breakout point (90.00) pivots to support and is followed by the deeper 200-day moving average, currently 85.90.

Keysight Technologies, Inc. /zigman2/quotes/207530903/compositeKEYS+0.55%
is a large-cap developer of electronic design and test systems, and a contributor to the 5G wireless buildout.

The shares started July with an upturn, briefly tagging record territory amid a volume spike.

By comparison, the ensuing pullback has been flat, fueled by decreased volume, laying the groundwork for potential follow-through. Tactically, the former range top (88.60) pivots to support, and the breakout attempt is intact barring a violation.

Earlier this month, the shares knifed to two-year highs, rising amid a volume spike on no apparent news.

The upturn comes from a prolonged base— illustrated on the five-year chart
— meaning that a breakout opens the path to less-charted territory and potentially material follow-through. (The longer the base, the higher the space.)

Tactically, the July low (27.00) offers an area to work against, and a breakout attempt is in play barring a violation.

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Still well positioned

The table below includes names recently profiled in The Technical Indicator that remain well positioned. For the original comments, see The Technical Indicator Library.

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